TechFlow reported, citing Bloomberg and sources familiar with the matter, that bitcoin rewards company Fold Inc. is in advanced talks with FTAC Emerald Acquisition Corp, a blank-check company founded by SPAC veteran Betsy Cohen, to go public via a SPAC deal. The transaction would value Fold at nearly $500 million, with an announcement potentially as early as Wednesday.
Founded in 2019, Fold allows users to earn bitcoin when making purchases with its debit card, a business model similar to cash-back programs offered by traditional credit cards.
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